Phillips 66 CEO Says Change in Venezuela a Boon to Oil Refiners

Phillips 66 CEO Says Change in Venezuela a Boon to Oil Refiners

One of the largest US oil refiners sees a potential reopening of Venezuela’s oil industry as a major boost to fuel-makers that rely on heavier crude grades.

An oil giant exec’s take on Venezuela

One of the nation’s largest refiners says geopolitical upheaval in Venezuela could become a windfall for U.S. fuel makers built to process heavy crude, Bloomberg writes.  Speaking at the Goldman Sachs Energy, Clean Tech & Utilities Conference in Miami, Phillips 66 CEO Mark Lashier said a potential reopening of Venezuela’s oil sector would boost companies able to run heavier grades, which were once produced there at roughly 3 million barrels a da…

Phillips 66 Says Two Gulf Coast Refineries Ready to Process Venezuelan Crude Amid Ramp Up - Energy News, Top Headlines, Commentaries, Features & Events

Refiner Phillips 66 said on Tuesday in a Goldman Sachs conference that it has two Gulf coast refineries which can turn and process Venezuela crudes as they ramp up. Reporting by Vallari Srivastava and Pooja Menon in Bengaluru; Editing by Tasim Zahid